MRP Capital Investments LLC Sells 49,385 Shares of Alphabet Inc. (NASDAQ:GOOG)

MRP Capital Investments LLC trimmed its holdings in Alphabet Inc. (NASDAQ:GOOG) by 67.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 24,010 shares of the information services provider’s stock after selling 49,385 shares during the period. Alphabet makes up about 3.7% of MRP Capital Investments LLC’s holdings, making the stock its 4th largest holding. MRP Capital Investments LLC’s holdings in Alphabet were worth $3,384,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Veracity Capital LLC boosted its position in shares of Alphabet by 12.4% during the fourth quarter. Veracity Capital LLC now owns 10,597 shares of the information services provider’s stock worth $1,493,000 after buying an additional 1,173 shares during the period. Independence Bank of Kentucky grew its position in Alphabet by 25.3% in the 4th quarter. Independence Bank of Kentucky now owns 6,093 shares of the information services provider’s stock valued at $859,000 after acquiring an additional 1,230 shares in the last quarter. Washington Trust Bank increased its stake in Alphabet by 33.0% during the third quarter. Washington Trust Bank now owns 7,359 shares of the information services provider’s stock worth $970,000 after purchasing an additional 1,826 shares during the period. CNB Bank lifted its position in shares of Alphabet by 6.6% during the third quarter. CNB Bank now owns 27,723 shares of the information services provider’s stock worth $3,655,000 after purchasing an additional 1,710 shares in the last quarter. Finally, Sloy Dahl & Holst LLC boosted its stake in shares of Alphabet by 1.9% in the third quarter. Sloy Dahl & Holst LLC now owns 8,238 shares of the information services provider’s stock valued at $1,086,000 after purchasing an additional 155 shares during the period. Institutional investors and hedge funds own 27.26% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on GOOG shares. Raymond James upped their target price on shares of Alphabet from $150.00 to $160.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Susquehanna increased their price objective on Alphabet from $150.00 to $170.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Morgan Stanley reissued an “overweight” rating and set a $165.00 target price on shares of Alphabet in a research note on Thursday, April 11th. Finally, Oppenheimer increased their price target on Alphabet from $172.00 to $185.00 and gave the company an “outperform” rating in a research report on Monday, April 8th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Alphabet presently has an average rating of “Buy” and a consensus target price of $157.50.

Alphabet Trading Down 1.8 %

GOOG opened at $156.33 on Tuesday. The business’s 50-day simple moving average is $146.73 and its 200-day simple moving average is $141.34. The company has a market cap of $1.94 trillion, a P/E ratio of 26.95, a PEG ratio of 1.47 and a beta of 1.05. Alphabet Inc. has a one year low of $103.27 and a one year high of $161.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 2.10 and a current ratio of 2.10.

Alphabet (NASDAQ:GOOG) last announced its quarterly earnings results on Tuesday, January 30th. The information services provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.60 by $0.04. The company had revenue of $86.31 billion for the quarter, compared to analyst estimates of $85.28 billion. Alphabet had a net margin of 24.01% and a return on equity of 27.22%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same period in the prior year, the firm posted $1.05 earnings per share. As a group, equities research analysts expect that Alphabet Inc. will post 6.78 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Amie Thuener O’toole sold 660 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total transaction of $94,769.40. Following the transaction, the chief accounting officer now owns 27,920 shares in the company, valued at approximately $4,009,032.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CAO Amie Thuener O’toole sold 660 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $143.59, for a total value of $94,769.40. Following the completion of the sale, the chief accounting officer now directly owns 27,920 shares of the company’s stock, valued at $4,009,032.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frances Arnold sold 230 shares of Alphabet stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $154.06, for a total transaction of $35,433.80. Following the completion of the transaction, the director now directly owns 15,104 shares in the company, valued at $2,326,922.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 251,339 shares of company stock valued at $36,033,907. 12.99% of the stock is currently owned by insiders.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.